Casino Canberra commitment for Aquis Entertainment Limited
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Tony Fung Wing-Cheung, Chairman of Aquis Entertainment Limited, revealed that his company is interested in redeveloping its Casino Canberra property. The proposed makeover could cost up to $256 million. Aqui is planning to reengage with the Labour-led government for the Australian Capital Territory in hopes of being given permission to refresh the 26-year-old property, according to Inside Asian Gaming.
Aquis Entertainment Limited spent $5 million in 2014 to purchase the Casino Canberra. The next year, the company submitted plans to revamp the venue, but the plans were denied.
Aquis Entertainment Limited is planning to redevelop Casino Canberra. The company is meeting with the government this year to discuss the conditions for the redevelopment. The post-coronavirus recovery of Canberra represents the greatest opportunity for renewal.
Fung has described the planned Casino Canberra redevelopment as ‘a once in a lifetime tourism infrastructure opportunity’ and it is still part of his longer-term strategy for growth in Canberra. The operator has managed to reverse an earlier $3.1 million deficit to record a full-year profit for the twelve months to the end of December of approximately $620,000.
